Alsaree3, Al Zajel raise seed funding
Baghdad-based food delivery app Alsaree3, and its sister company on-demand delivery platform Al Zajel, have raised a six-figure seed funding round, led by Iraq Tech Ventures along with a cluster of other investors.
Alsaree3 offers a point of sale (POS) and hardware technologies to help restaurants handle their own orders while providing fast-delivery services for their end users, while Al Zajel offers on-demand delivery services.
Together, Alsaree3 and Al Zajel share their own fleet of bikes and drivers and work with additional drivers on a contractual basis during peak hours.
“Alsaree3 was one of the first companies in the whole region who started developing and using these Android POS systems since our start in 2018. This state-of-the-art technology enables our restaurants to accept, print, and check the history for each order. Also, it enables some of our exclusive restaurants to place offline orders. What is more, the special M2M sim cards in these POS devices reduce the internet cost for the restaurants enormously," said Bassam Al-Ateia, CEO and founder of Alsaree3.
Al Saree3 boasts a portfolio of over 450 restaurants in Baghdad.
“Alsaree3 is incredibly strong operationally due to the founder’s investment in quality, proprietary technology and his extensive experience operating in Iraq. We have no doubts about Alsaree3 and Al Zajel’s promising performance in the future,” said Mohammed Khudairi, CEO of Iraq Tech Ventures.
This is the second venture in Iraq that was brought to market by the collaboration between Iraq Tech Ventures and Shwan Ibrahim Taha, chairman of Rabee Securities. "I am a firm believer in the future of Iraq that is led by its entrepreneurs. Through our consortium, we are proud to help Iraqi startups like Alsaree3, and we look forward to more investments in the sector."